According to the report, global telecom API market was valued at approximately USD 66.37 billion in 2016 and is expected to reach approximately USD 218.84 billion by 2022, growing at a CAGR of around 22% between 2017 and 2022.

Zion Market Research has published a new report titled “Telecom API Market (SMS, MMS & RCS, Payment, Voice/Speech, Maps & Location, Identity Management, Web-RTC and Others) for Internal Telecom Developer, Enterprise Developer and Partner Developer: Global Industry Perspective, Comprehensive Analysis and Forecast, 2016 – 2022”. According to the report, global telecom API market was valued at approximately USD 66.37 billion in 2016 and is expected to reach approximately USD 218.84 billion by 2022, growing at a CAGR of around 22% between 2017 and 2022.

Telecommunication industry is going through an innovative and interesting phase in its evolution. Telecom industry continues to be at the epicenter of innovation, growth, and disruption for almost any industry. Cellular mobile service providers are at the root of the enormous expansion in the usage and number of subscribers.

An API (application programming interface) is a set of programming instructions & standards for accessing a web-based software application. A software company releases its API to the public so that other software developers can design products that are powered by its service. Increasing use of mobile internet and adoption of new technology is driving the demand of global telecom API market. In addition, high competition and need to provide high-quality service at low cost are pushing the industry towards telecom API. Increasing access to 4G LTE network globally will further propel the market growth. However, lack of awareness and technical know-how are some of the challenges affecting the growth of this market.

Telecom APIs continue to present new attractive opportunities for network operators and service providers like Do Not Call Registry compliance & unwanted Call blocking services. Technology development and adoption of the trend is driving the long-term future growth of Telecom APIs.

API market is segmented on the basis of services, users, and regions. The enterprise developer user segment dominated the market and it has accounted 32% share of the total market in 2015. This is due to high revenue generation offered by enterprise developers while integrating telecom API into the specific functioning of telecom firms. Long tail developers are also anticipated to experience robust growth during the upcoming period.

Service segment includes SMS, MMS & RCS, maps & location, voice/speech, identity management, web-RTC and others. The voice/speech segment dominated the market with the largest share of the total market in 2016. This is mainly due to the tremendous use of voice API in the mobile application. Payments segment also accounted for significant share due to the increasing demand for payment API from developing regions. SMS, MMS & RCS and web-RTC are expected to exhibit significant growth during the forecast period.

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